Arbor Investment Advisors LLC Lowers Holdings in Cadence Bank (NYSE:CADE)

Arbor Investment Advisors LLC decreased its stake in Cadence Bank (NYSE:CADE) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,917 shares of the company’s stock after selling 5,329 shares during the quarter. Cadence Bank makes up 0.3% of Arbor Investment Advisors LLC’s holdings, making the stock its 28th largest position. Arbor Investment Advisors LLC’s holdings in Cadence Bank were worth $2,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Cadence Bank in the 4th quarter worth about $26,000. Mather Group LLC. raised its holdings in Cadence Bank by 716.2% in the 4th quarter. Mather Group LLC. now owns 808 shares of the company’s stock worth $28,000 after purchasing an additional 709 shares during the period. Keystone Financial Group Inc. acquired a new position in Cadence Bank in the 4th quarter worth about $31,000. Point72 Hong Kong Ltd acquired a new position in Cadence Bank in the 3rd quarter worth about $32,000. Finally, GAMMA Investing LLC raised its holdings in Cadence Bank by 19.3% in the 4th quarter. GAMMA Investing LLC now owns 1,862 shares of the company’s stock worth $64,000 after purchasing an additional 301 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

CADE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Cadence Bank from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Barclays raised Cadence Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $44.00 in a report on Thursday, December 19th. Stephens reissued an “overweight” rating and set a $42.00 target price on shares of Cadence Bank in a report on Thursday, January 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $38.00 target price on shares of Cadence Bank in a report on Friday, January 24th. Finally, Citigroup increased their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Cadence Bank Stock Performance

Shares of Cadence Bank stock opened at $33.05 on Friday. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 11.93 and a beta of 0.99. Cadence Bank has a fifty-two week low of $26.16 and a fifty-two week high of $40.20. The stock has a 50 day moving average of $34.83 and a 200 day moving average of $34.02.

Cadence Bank (NYSE:CADE) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Cadence Bank had a return on equity of 9.87% and a net margin of 18.03%. During the same period last year, the business earned $0.40 earnings per share. Analysts forecast that Cadence Bank will post 2.94 EPS for the current year.

Cadence Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.275 per share. This is a positive change from Cadence Bank’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, March 14th. Cadence Bank’s dividend payout ratio (DPR) is currently 36.10%.

Cadence Bank Company Profile

Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.